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great credit spotlight
how in the next 12 months can I recieve a moderate increase in credit score ,and carry me through it step by step?

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electric guru

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 I can only share what I did to improve my credit.

I did not go the secured cc route.  I obtained four cards from sub-prime lenders.  The limits were a joke starting out.  Like between 250 - 500 bucks.  These all doubled within a year I think.  Still not a big deal, but it looked great on the credit report. 

The down sides to these cards are.  There are start up fees of a hundred or so that will make the card useless the first month.  Then they each had a monthly fee of about 5 bucks.  Plus an annual fee of about 50 bucks.  If you can handle that, They did look great on the credit report and within a year I saw my FICO numbers on the rise to a respectable place.  After two years of this, the limits were steadily increasing, (but still a joke).  Then the good cards starting giving me cedit lines at normal rates with good limits.

After that, there was one more hit I took, and that was when it became time to get rid of the sub-prime cards (because they will start to hold your numbers back).  When you dump them, you will take a hit (not too big) because your average age of credit will droop, and then start climbing again.  When the dust settles, you will be in a good place and climbing.

It doesnt happen overnight, but you will see steady growth in your numbers in relatively short order.

This is what I went thru.  A few short years ago, my number was so bad that decent cc and Amex would laugh and deny me.  Last yearr I bought a house at 3.75% and have good cards with decent limits and interest rates.  FICO is now 740 and climbing. 

Just get some cards reporting and keep them in good standing.  There may be other ways to do it, but this is what I went thru.  It is worth it in my opinion to not have all the embarassment that comes along with having bad credit.

From my observation: The Golden Rule is to pay on time (or early is better) and keep the utilization under 20-25%.

Good Luck


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i guess I have too obtain a couple of secured cc ,and get in the game.I have several loans on my credit report with good payment history but doesn't make a great enough signifigance on my score

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